Record for Technopolis Ülemiste

Anna Pakulniewicz

Journalist

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

ESTONIA Ülemiste City developer Technopolis Ülemiste saw its net profit increase by 68 pct over 2017 to EUR 12 mln and its net sales rise by 5 pct to EUR 13.6 mln. At the end of the year, the company’s equity came to EUR 68.4 mln.

“2017 was the most successful year for the company in its history so far, the main reasons for which are the high occupancy rates of our rental premises and the effective sales of our services,” says Gert Jostov, the CEO of Technopolis Ülemiste. “Today, the rental premises we manage comes to 72,000 sqm, which makes us the largest owner of office buildings in Tallinn,” he added.

In 2017, the company launched several large projects that had been under preparation for a long time. “Our main job was to construct a new 13-storey office building named after Alexandre Liwentaal as well as a multi-storey car park at 11 and 12 Lõõtsa Street. The car park is ready with the opening having taken place in February. The new office building with over 9,000 sqm of space will be completed this summer,” says Gert Jostov.

In addition a 900 sqm building at 2 Sepapaja Street was built with Selver opening a supermarket in it in June 2017. The store primarily serves the app. 8,000 employees in the district.

In 2017, the zoning plan for the 4.41 ha area between the streets of Suur-Sõjamäe, Lõõtsa, Ääsi and Valukoja was changed to allow for the construction of eight new office buildings with a total of 80,000 sqm office space and two multi-storey car park with 500 spaces. The decision to start the investment has not yet been made.

“The company has already begun designing the new Sepapaja Street 1 office building, the 500-space car park and the city square,” says Gert Jostov.